Technical: Sun Oil Kakinada Spot : Rising Price Build Up Witnessed

MUMBAI (Commoditiescontrol) -

Dated 16/11/2017

Technical: Sun Oil Kakinada Spot : Rising Price Build Up Witnessed

Sun Flower Oil- Kakinada Last Close-690 : Rising Price Build Up Witnessed

Up Trend has resume as prices are above both the averages.

Bull Market is resuming as 55 VA is above 89 VA now.

Trend line resistance is visible and looking for the trend line breakout.

Expect a rise towards 701 and 720.

Wave 1 appears to be in progress now and could end or stop at 701 or 720.

Correction if any in near term to averages will be opportunity for accumulation.

Averages are placed at 668-667.

Overall prices are likely to be higher with volatility in near term to short term.

Conclusion

Up trend and bull market attempting to resume.

(By Commoditiescontrol Bureau; +91-22-40015516)